As Bitcoin price dips to $68,380, shedding nearly 0.50% on Monday, market watchers eye pivotal movements and strategic investment shifts.

Amidst this fluctuating landscape, BlackRock’s iShares Bitcoin ETF emerges as a dominant force, overshadowing MicroStrategy with a staggering 195,985 Bitcoin accumulation.

This remarkable growth, fueled by institutional interest and strategic spot ETF introductions in the U.S., hints at a bullish horizon.

Herein lies a comprehensive analysis, exploring Bitcoin price predictions that contemplate the digital asset’s trajectory amidst burgeoning institutional embrace and market optimism, setting the stage for unprecedented valuation milestones.

BlackRock’s Bitcoin ETF Outpaces MicroStrategy in Bitcoin Holdings

BlackRock’s iShares Bitcoin ETF (IBIT) has quickly become a heavyweight in the cryptocurrency market, amassing more Bitcoin than Michael Saylor’s MicroStrategy.

In under two months, IBIT’s holdings have soared to 195,985 Bitcoin, overtaking MicroStrategy’s stockpile as the firm looks to expand its holdings with a $700 million raise.

[1/4] Bitcoin ETF Flow – 08 March 2024

All data in. $223m positive net flow for thew day

The assets of the ETFs excluding GBTC are now over $28 billion, this is now larger than GBTC's assets for the first time pic.twitter.com/5BlBTu4WLn

— BitMEX Research (@BitMEXResearch) March 9, 2024

This surge has placed IBIT at the forefront of Bitcoin investment products, indicating a robust institutional interest in Bitcoin that could further propel its price.

In less than two months of existence, the BlackRock iShares Bitcoin ETF $IBIT has accumulated more #bitcoin than the largest corporate holder, MicroStrategy $MSTR. @HeleneBraunn reportshttps://t.co/PLrZs3955d

— CoinDesk (@CoinDesk) March 10, 2024

• BlackRock’s IBIT now holds more Bitcoin than MicroStrategy, with 195,985 tokens.
• MicroStrategy plans a $700 million raise to increase its Bitcoin holdings.
• Bitcoin’s price surged over 60% this year, hitting a peak of $70,136.

This shift reflects growing confidence in Bitcoin from institutional investors, hinting at a potentially higher valuation in the near future.

“Wolf of All Streets” Predicts Bitcoin Bull Run Amid Warning of Impending Bubble

Scott Melker, known as the “Wolf of All Streets,” forecasts a significant bull run for Bitcoin and the wider cryptocurrency market, cautioning about an impending bubble.

He suggests that even valueless cryptocurrencies may experience a surge, leading to an eventual market correction.

Gun to my head, I believe that we are just at the start of a major bull run for both Bitcoin and the broader Crypto market in general. I think that we will likely see a huge bubble and that coins with no fundamental value will also skyrocket before it inevitably pops.

That…

— The Wolf Of All Streets (@scottmelker) March 8, 2024

Melker emphasizes the risks of overconfidence in rapid wealth growth, noting the high failure rate among numerous crypto transactions.

'Wolf of All Streets' Sees Start of Major Bull Run for #Bitcoin and Broader #Crypto Market — Warns of a 'Huge Bubble' https://t.co/lrBLznMzZ5

— Bitcoin.com News (@BTCTN) March 11, 2024

• Melker predicts a significant bull run, cautioning about a potential bubble.
• Bitcoin’s all-time high breaks amid surging demand for spot ETFs and halving event anticipation.
• Prominent crypto figures share optimistic views, increasing market hope.

This bullish outlook is bolstered by recent demand for spot bitcoin ETFs, the halving event’s expectations, and positive forecasts from leading crypto figures.

As the market’s demand continues to outstrip supply, Bitcoin’s price is likely to climb further, driven by collective optimism and speculation.

Cathie Wood’s ARK Invest Forecasts Bitcoin Price to Surpass $1 Million by 2030

Cathie Wood, the visionary CEO of ARK Invest, has projected an ambitious future for Bitcoin, predicting its price will soar “well above” $1 million before the turn of the decade.

This bold forecast comes amid a surge in institutional interest, particularly following the introduction of spot ETFs in the United States.

Wood attributes this heightened optimism to the SEC’s recent approvals, which she believes have fundamentally transformed Bitcoin’s investment landscape.

#Bitcoin bull Cathie Wood: ARK Invest #BTC price target 'well above' $1M#ARK has "brought forward" its expectations for where Bitcoin will be by 2030, as BTC price strength sees another all-time high in play into the weekly close.
Bitcoin will hit $1 million sooner than 2030,… pic.twitter.com/DS4ZkvJLdD

— TOBTC (@_TOBTC) March 10, 2024

• Cathie Wood believes Bitcoin will exceed $1 million by 2030, driven by institutional investments and spot ETFs.
• The SEC’s approval of spot ETFs marks a pivotal moment, influencing ARK’s revised price target.
• Bitcoin approaches new highs, with potential to break the $70,000 threshold, fueled by investor optimism.

As Bitcoin edges closer to unprecedented highs, the anticipation of further price discovery, spurred by ETF inflows and the optimistic outlook of influential figures like Wood, places Bitcoin on a trajectory for significant growth.

This optimistic stance underscores the increasing confidence among investors and the potential for Bitcoin to achieve new milestones in the coming years.

Bitcoin Price Prediction

In today’s analysis of Bitcoin (BTC/USD)‘s pivot point holds aat around $67,315, with immediate resistance levels observed at $70,257, $74,069, and $77,891.

On the downside, support is found at $64,861, followed by $62,192 and $59,380. The Relative Strength Index (RSI) stands at 56, indicating a neutral to slightly bullish sentiment, while the Moving Average Convergence Divergence (MACD) shows a divergence of -161 below its signal line at 733, suggesting potential bearish momentum.

The 50-Day Exponential Moving Average (EMA) at $66,357 provides a baseline for the current market trend.

• BTC faces resistance below $69,000; a decisive move could signal future direction.
• MACD and RSI suggest caution, with potential for either continuation or reversal.

Given Bitcoin’s struggle below the $69,000 mark and the presence of Doji and spinning top candles, a sell-off could be triggered if these levels hold.

The overall trend appears bearish below $69,000, yet a break above this threshold could pivot to a more bullish outlook.

Top 15 Cryptocurrencies to Watch in 2024

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Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed.

The post Bitcoin Price Prediction: Eyeing $75,000 Amid BlackRock ETF Surge & Market Optimism appeared first on Cryptonews.

Announced on Thursday, the fund aims to further India’s decentralized application ecosystem on Core Chain – EVM-compatible blockchain secured on Bitcoin.

“The funds are sourced from a $200 million Core ecosystem fund,” Shivangi Pandey, India Ecosystem Lead at Core DAO, told Cryptonews.com.

“We are seeking to invest in the India web3 ecosystem by supporting blockchain developers, builders & founders through our upcoming accelerator program and Hackathons, scheduled in coming months.”

The program is seeking for innovative Indian developers and builders who are interested in developing BTCf on Core Chain. “The EVM compatibility of Core makes it easy for developers from both Web2 and Web3 to start building on the blockchain,” she added.

Core DAO launched its $5 million Core Africa Ecosystem Fund in February, to provide resources to local Web3 builders.

India’s Web3 Ecosystem Boom

India’s internet and Web3 is primarily driven by its young and tech-savvy population. Blockchain analytics firm Chainalysis’ 2022 cryptocurrency report placed India in No. 1 in the trend of increasing on-chain activity.

Further, India’s global leadership in Web3 adoption is also visible in traffic coming from the country onto popular Web3 websites. Per Similarweb company research, India ranked among first 5 in traffic share of Web3 products – Uniswap, Metamask, Opensea, and Binance.

The growth has become significant enough for the government to take notice. Using G20 as a platform, India has taken the onus of working with other countries to frame an international regime to bring web3 under regulation.

“India’s startup energy is unmatched, and its Web3 ecosystem is no exception, booming with over 450 startups and $1.3 billion in investments,” Shivangi added.

Core’s goal is to empower Indian builders, spur dapp growth and merge Bitcoin’s security with Ethereum’s flexibility, she stressed.

“This initiative will open new doors and boost India’s crypto economy, with a focus on scaling Bitcoin and unlocking BTCFi.”

The post This New $5M Fund Aims to Scale Bitcoin-Aligned Projects in India – Here’s the Latest appeared first on Cryptonews.

As Bitcoin hovers around $69,400, up nearly 1.50% on Sunday, its journey beckons keen market watchers for a Bitcoin price prediction. This recent surge, hinting at potential market shifts, sets the stage for an examination of Bitcoin’s trajectory amidst the broader financial landscape.

DeFi’s Total Value Locked Surpasses $100 Billion Amid Bitcoin Rally

March 9 marked a significant milestone for decentralized finance (DeFi) with its total value locked (TVL) reaching $100.1 billion, fueled by a wave of positive sentiment following Bitcoin’s rise.

Lido leads with $38.7 billion in TVL, while the market’s confidence was further lifted by the introduction of Bitcoin ETFs, attracting $28 billion.

Rumors of Bitcoin scarcity on OTC platforms caused trading disruptions on exchanges like Binance and Coinbase due to a surge in volume.

Memecoins such as Korra, Ribbit, and PUG AI also experienced price hikes alongside Bitcoin. Pepe and Shiba Inu stand out in the memecoin market, achieving a collective valuation of $61 billion.

This breakthrough in DeFi’s TVL, combined with Bitcoin’s performance, may bolster investor trust in cryptocurrencies and potentially elevate Bitcoin’s value.

Bill Ackman’s Skeptical Take on Bitcoin’s Economic Impact Simplified

Billionaire hedge fund manager Bill Ackman recently sparked conversations within the Bitcoin community with his humorous take on the potential economic consequences of rising Bitcoin prices.

Ackman’s playful scenario suggested that an increase in Bitcoin values could lead to more mining activity, consequently elevating energy costs, inflation, and further demand for the cryptocurrency, ultimately joking about Bitcoin “going to infinity” and potentially destabilizing the economy.

• Ackman humorously suggested that rising Bitcoin prices could disrupt the economy.
• MicroStrategy’s Michael Saylor responded, highlighting miners’ role in reducing electricity costs.

Despite his jest, Ackman, CEO of Pershing Square Capital Management and a casual cryptocurrency experimenter, remains largely detached from the market.

A scenario:

Bitcoin price rise leads to increased mining and greater energy use, driving up the cost of energy, causing inflation to rise and the dollar to decline, driving demand for Bitcoin and increased mining, driving demand for energy and the cycle continues.

Bitcoin… https://t.co/a5LzX69R7q

— Bill Ackman (@BillAckman) March 9, 2024

His comments, while not likely to sway Bitcoin prices directly, contribute to ongoing debates regarding the digital currency’s broader economic and energy implications, potentially influencing investor sentiment.

Microstrategy’s Bitcoin Portfolio Value Skyrockets by 116%

Microstrategy, a leading business intelligence firm, has seen its Bitcoin investment value soar by 116%, reaching an impressive $13.2 billion.

The firm’s strategic acquisition of 193,000 Bitcoins at an average price of $51,813 each has cemented its position as the top publicly traded company by Bitcoin assets, trailing only two U.S.-based spot Bitcoin ETFs.

This surge comes as Bitcoin’s market value hits nearly $69,015, driving a 9.66% increase in Microstrategy’s shares on Friday and an 18.8% rise over the last five days.

• Microstrategy’s Bitcoin assets now top $13.2 billion.
• Shares up by 9.66% on Friday, reflecting a positive market response.

Microstrategy’s bold move reflects a growing trend among public companies integrating digital assets into their financial strategies, underscoring a broader acceptance of cryptocurrencies within conventional financial systems.

This shift is likely to boost institutional demand and interest in Bitcoin, further integrating it into the mainstream financial landscape.

Bitcoin Price Prediction

Bitcoin (BTC/USD) showcases a robust uptrend, escalating by nearly 1.50% to a trading price of $69,400. Marking a significant pivot at $68,443, Bitcoin navigates through key resistances at $71,992, $75,598, and $79,296, hinting at potential milestones in its upward trajectory.

Support levels at $64,861, $62,872, and $59,380 provide a safety net against downturns. The Relative Strength Index (RSI) standing at 66, coupled with a bullish engulfing candle on the 4-hour chart, underscores a compelling buying trend.

Should Bitcoin sustain above $68,500, a bullish narrative prevails; conversely, dipping below this benchmark could trigger a sell-off.

Eco-Friendly Bitcoin: Revolutionizing Cryptocurrency with Gamified Eco-Staking

Green Bitcoin  is leading a revolutionary shift in the cryptocurrency sphere by blending the urgency of environmental conservation with the innovative landscape of digital currency. Through its novel approach of Gamified Eco-Staking, this initiative not only entices participants with appealing rewards but also champions the cause of ecological preservation with each stake, backed by a distinct dual token reward mechanism.

Breakdown of Token Distribution:

• Initial Offering (40%): Launches the currency with significant momentum, setting the stage for sustained growth.
• Staking Incentives (27.50%): Allocates a major share to appreciate the enduring engagement of community members, vital for the ecosystem’s thriving.
• Promotional Activities (17.50%): Directs resources towards essential promotional strategies to build and broaden the currency’s worldwide recognition.
• Trading Fluidity (10%): Guarantees smooth trading experiences, bolstering the token’s availability across exchanges.
• Community Engagement Rewards (5%): Acknowledges and motivates the core community’s involvement, enhancing participation and dedication.

The ‘Eco Pathway’ charts a definitive course for Eco-Friendly Bitcoin, initiating with a value-centric initial offering and progressing through deliberate actions to energize the community and cement the token’s standing in the marketplace.

• Imminent Price Surge: Only 4 Days Away
• Current Funding: $2,321,140 of $2,247,631
• Current Exchange Rate: 1 $EFCB = $0.6882

Venture into the world of Eco-Friendly Bitcoin where your investment transcends mere profit to bolster a sustainable financial ecosystem. Invest today and join the movement towards a greener future.

Get Green Bitcoin Here

The post Bitcoin Price Prediction as On-Chain Metrics Reveal Whales are Holding Despite Recent Surge appeared first on Cryptonews.

Bitcoin‘s recent trading activity presents a fascinating case for price predictions as the digital currency hovers around $68,100, marking an increase of 1.50% on Saturday.

Bitcoin ETF Approval Sparks Record Surge, Rallying Crypto Market and Company Stocks

Bitcoin’s value soared, almost touching the $70,000 mark, energized by the US SEC’s nod to 11 spot bitcoin ETFs and a hint of lowering global interest rates.

Although it dipped to around $68,317.72 after the peak, the cryptocurrency market remains vibrant with fresh institutional investments.

Bitcoin briefly rises to record high over $70,000 https://t.co/O4AF3GlrQT pic.twitter.com/4wk1L7SgZg

— Reuters (@Reuters) March 8, 2024

Here’s a quick glance:

• Bitcoin’s record surge, driven by ETF approvals and global rate cut forecasts.
• Subsequent dip to approximately $68,317.72 after the initial high.
• Ethereum and other cryptocurrencies also ride the Bitcoin wave, signaling market expansion.
• Related companies like Coinbase, Riot Platforms, and Marathon Digital see a boost in share prices.

With this momentum, Bitcoin’s climb could persist, inviting more investors and reinforcing confidence in the crypto space.

Blackrock Eyes Bitcoin ETP Inclusion in Major Investment Fund

Blackrock, the world’s leading asset manager, is probing the potential integration of Bitcoin Exchange-Traded Products (ETPs) into its renowned Blackrock Global Allocation Fund. An SEC filing unveils plans to engage with the burgeoning cryptocurrency market, providing traditional investors with a fresh pathway to the digital assets sphere.

This strategic move signals a growing institutional allure towards cryptocurrencies, poised to increase demand and potentially accelerate mainstream acceptance. Investors in the fund would bear the costs associated with the volatile nature of Bitcoin ETPs, aligning directly with Bitcoin’s fluctuating prices.

This pivotal development underscores the increasing integration of digital currencies within traditional investment frameworks.

Bitwise CIO Highlights Risks Amid Cryptocurrency Market Exuberance

In a recent surge, Bitwise’s CIO Matt Hougan has flagged concerns over inflated valuations of numerous cryptocurrencies. As profits from Bitcoin flow into more speculative assets, investors are warned to tread carefully to avoid irrational investments.

1/ Lots of discussion out there about the early start of alts season, and some surprise that it’s happening given bitcoin is "only" up a few hundred percent from the lows.

Some thoughts.

— Matt Hougan (@Matt_Hougan) March 8, 2024

Key points from Hougan’s caution:

• The rush to invest in riskier tokens may inflate their prices unwisely.
• Altcoins, particularly memecoins and AI-themed tokens, are outperforming Bitcoin.
• Investors are urged to consider overall wealth impact rather than just percentage gains.
• With high scam incidents in 2023, verifying a project’s legitimacy is crucial.

Hougan’s words reflect a conservative stance, advising investor prudence amid the market’s volatility.

Project Ensemble: Hong Kong’s Leap into Tokenized Deposits and WCBDC

The Hong Kong Monetary Authority has initiated Project Ensemble, focusing on the potential of tokenized deposits and a wholesale CBDC. This pioneering step underscores Hong Kong’s commitment to exploring the forefront of financial technology and digital innovation.

Highlights of Project Ensemble:

• Live WCBDC issuance is considered contingent on sustained interest.
• The initiative explores using tokenized deposits for treasury management, interbank settlements, and green bond trading.
• Collaboration with banks, cryptocurrency entities, tech firms, and academics will drive development and standardization.
• Chief Executive Eddie Yue views the project as a boost to Hong Kong’s financial innovation reputation.

Project Ensemble’s progress may influence the global digital currency landscape and Bitcoin’s future as more regions delve into tokenization and CBDCs.

Bitcoin Price Prediction

In today’s trading, Bitcoin (BTC/USD) is navigating around a pivotal $68,000 mark. The cryptocurrency might encounter resistance at $70,160, which could extend up to $74,381, marking potential turning points for price action.

Key Bitcoin Trading Levels:

• Resistance zones: $70,160, $72,219, $74,381
• Support thresholds: $66,305, $63,265, $61,393

Technical Analysis Insights:

• The RSI at 66 suggests active investor interest.
• The 50-Day EMA at $64,700 underscores the ongoing upward trend.

With a bullish engulfing candle pattern observed recently, there’s an indication that Bitcoin’s climb could sustain. Overall, current analysis implies a continued bullish outlook as long as Bitcoin stays above the $68,000 level.

Eco-Friendly Bitcoin: Revolutionizing Cryptocurrency with Gamified Eco-Staking

Green Bitcoin  is leading a revolutionary shift in the cryptocurrency sphere by blending the urgency of environmental conservation with the innovative landscape of digital currency. Through its novel approach of Gamified Eco-Staking, this initiative not only entices participants with appealing rewards but also champions the cause of ecological preservation with each stake, backed by a distinct dual token reward mechanism.

Breakdown of Token Distribution:

• Initial Offering (40%): Launches the currency with significant momentum, setting the stage for sustained growth.
• Staking Incentives (27.50%): Allocates a major share to appreciate the enduring engagement of community members, vital for the ecosystem’s thriving.
• Promotional Activities (17.50%): Directs resources towards essential promotional strategies to build and broaden the currency’s worldwide recognition.
• Trading Fluidity (10%): Guarantees smooth trading experiences, bolstering the token’s availability across exchanges.
• Community Engagement Rewards (5%): Acknowledges and motivates the core community’s involvement, enhancing participation and dedication.

The ‘Eco Pathway’ charts a definitive course for Eco-Friendly Bitcoin, initiating with a value-centric initial offering and progressing through deliberate actions to energize the community and cement the token’s standing in the marketplace.

• Imminent Price Surge: Only 4 Days Away
• Current Funding: $2,321,140 of $2,247,631
• Current Exchange Rate: 1 $EFCB = $0.6882

Venture into the world of Eco-Friendly Bitcoin where your investment transcends mere profit to bolster a sustainable financial ecosystem. Invest today and join the movement towards a greener future.

Get Green Bitcoin Here

The post Bitcoin Price Prediction as BTC Hits $70,000 and Retraces – What’s Going On? appeared first on Cryptonews.

Analysts led by Nikolaos Panigirtzoglou wrote that Bitcoin ETFs, when assessed as a substitute for gold and adjusted for volatility, have an implied “realistic size” of $62 billion over the next two to three years.

JPMorgan Bearish On Bitcoin

That’s a less optimistic target than what more bullish crypto analysts project for the ETFs, which have already absorbed $9.3 billion of net flows since their launch 2 months ago. Combined with Bitcoin’s price appreciation since that time, ETFs including Grayscale have seen their AUM rise from $30 billion to over $50 billion.

According to JPMorgan, bulls are not accounting for the risk associated with Bitcoin, and thus vastly overestimating the share of investors’ portfolios that it will comprise. They bank wrote:

“Most investors take risk and volatility into account when they allocate across asset classes and given the volatility in bitcoin is around 3.7 times the volatility of gold it would be unrealistic to expect bitcoin to match gold within investors’ portfolios in notional amounts.”

Dividing the amount of gold currently held by investors ($3.3 trillion) by the Bitcoin’s volatility against gold (3.7), provides a figure of $900 billion in total Bitcoin allocation to investors. This implies a price per coin of $45,000 – far below Bitcoin’s current market price of $69,000.

The bank arrived at its $62 billion figure for Bitcoin ETFs by accounting for all gold held by funds, which equals $230 million, and dividing it by the 3.7 volatility multiple. Many of those funds, however, may have come from a rotational shift out of other Bitcoin-based investment vehicles and into the ETFs.

Bitcoin VS Gold

Gold ETFs in the United States roughly hold $92 trillion in assets, according to VettaFi. Their Bitcoin counterparts are the next largest commodity ETFs in the country.

Bitcoin and gold are often compared for their similar properties as investment vehicles. Neither has any intrinsic cash flows, but both are difficult to produce more of, and thus make for strong hedges against inflation.

Larry Fink, CEO of BlackRock, has often described Bitcoin as “digital gold” when discussing Bitcoin ETFs, and referred to investors’ appetite for the asset as a “flight to quality.”

The post JPMorgan Expects $62 Billion Bitcoin Spot ETFs Market Over 2 To 3 Years appeared first on Cryptonews.

Bitcoin has impressively rebounded, now trading at $69,258, a notable rise of over 2% in just 24 hours. This resurgence sparks renewed interest in Bitcoin price predictions, especially after its recent dip below the $60,000 mark.

Investors and crypto enthusiasts are closely watching as the premier cryptocurrency showcases resilience, pushing its market cap to an astounding $1.36 trillion.

With a significant trading volume of $57.82 billion and nearing its maximum supply cap, Bitcoin’s current trajectory hints at the potential for new highs, stirring discussions around its future movements in the digital currency landscape.

Bitcoin Price Prediction

Today, Bitcoin (BTC/USD)’s pivot point stands at $68,000, serving as a baseline for the current trading range. Bitcoin faces immediate resistance at $70,160, with further barriers at $72,219 and $74,381. These levels are crucial for traders tracking the currency’s short-term movements.

On the support side, Bitcoin finds strong backing at $66,305, with additional safety nets at $63,265 and $61,393. These levels are vital for maintaining the current bullish trend, providing a cushion against any potential downturns.

Technical indicators bolster the positive sentiment around Bitcoin. The Relative Strength Index (RSI) is at 66, hinting at a strong buying interest among investors.

Moreover, the 50-Day Exponential Moving Average (EMA) at $64,700 further confirms the bullish trend, indicating that the market momentum is in favor of the buyers.

A recent bullish engulfing candle on the 4-hour timeframe reinforces this trend, suggesting that the upward momentum might continue.

In conclusion, Bitcoin’s current market dynamics point towards a bullish trend above the $68,000 pivot point. The interplay of technical indicators, such as the RSI and the 50-Day EMA, alongside the support from a bullish engulfing candle pattern, underlines the strong buying pressure.

However, a break below the pivot point could trigger a sharp selling trend, emphasizing the importance of the identified support and resistance levels for market participants.

Eco-Friendly Bitcoin: Revolutionizing Cryptocurrency with Gamified Eco-Staking

Green Bitcoin  is leading a revolutionary shift in the cryptocurrency sphere by blending the urgency of environmental conservation with the innovative landscape of digital currency. Through its novel approach of Gamified Eco-Staking, this initiative not only entices participants with appealing rewards but also champions the cause of ecological preservation with each stake, backed by a distinct dual token reward mechanism.

Breakdown of Token Distribution:

• Initial Offering (40%): Launches the currency with significant momentum, setting the stage for sustained growth.
• Staking Incentives (27.50%): Allocates a major share to appreciate the enduring engagement of community members, vital for the ecosystem’s thriving.
• Promotional Activities (17.50%): Directs resources towards essential promotional strategies to build and broaden the currency’s worldwide recognition.
• Trading Fluidity (10%): Guarantees smooth trading experiences, bolstering the token’s availability across exchanges.
• Community Engagement Rewards (5%): Acknowledges and motivates the core community’s involvement, enhancing participation and dedication.

The ‘Eco Pathway’ charts a definitive course for Eco-Friendly Bitcoin, initiating with a value-centric initial offering and progressing through deliberate actions to energize the community and cement the token’s standing in the marketplace.

• Imminent Price Surge: Only 4 Days Away
• Current Funding: $2,321,140 of $2,247,631
• Current Exchange Rate: 1 $EFCB = $0.6882

Venture into the world of Eco-Friendly Bitcoin where your investment transcends mere profit to bolster a sustainable financial ecosystem. Invest today and join the movement towards a greener future.

Get Green Bitcoin Here

The post Bitcoin Price Prediction as BTC Bounces Back After Dip Below $60,0000 – New High Incoming? appeared first on Cryptonews.

For context, the country became the world’s first nation to accept Bitcoin as legal tender in September 2021. Then, on November 16, 2022, El Salvador’s President Nayib Bukele announced that the government would start purchasing 1 BTC per day.

Although President Bukele’s decision was met with criticism, it has been reported that the Bitcoin held by the government of El Salvador – which consists of over 2,000 BTC – is now valued at more than $150 million.

BREAKING NEWS: Emir of Qatar and President of El Salvador announce “No more easy buying or dips for laggards #Bitcoin full send to 70K” pic.twitter.com/UIvDUVow6m

— RŌNIN (@ronin21btc) March 3, 2024

While impressive, President Bukele has also stated that he has no plans to sell the country’s vast Bitcoin holdings. As the Bitcoin halving event approaches, El Salvador could see even more gains if the price of BTC continues to increase.

El Salvador Could Become one of the Wealthiest Countries

Given this, industry experts are predicting that El Salvador may eventually become one of the wealthiest countries in the world.

Silicon Valley-based Venture Capitalist Tim Draper recently stated on the Web3 Deep Dive podcast that El Salvador is taking off as an innovative country, noting that the region may soon be one of the most attractive places in the world to live.

“Within maybe 30 or 40 years, El Salvador will have gone from the poorest, most crime ridden country, to maybe one of the richest, most innovative countries in the world, just in that period of time,” said Draper. “And this is just because they embraced Bitcoin.”

Draper further pointed out that if Bitcoin reaches $100,000 El Salvador may be able to pay off loans owed to the International Monetary Fund (IMF).

Echoing this, Alexander Mamasidikov, Founder and CEO of CrossFi – a platform focused on bridging traditional banking with blockchain – told Cryptonews that he believes El Salvador will soon be financially independent.

“This will allow the country to focus entirely on its internal tasks, which is most important in our modern world,” said Mamasidikov. “Recognizing Bitcoin as an official currency has allowed the government to completely change the financial model and go its own way.”

Bitcoin Enables Financial Inclusivity for Salvadorans

Indeed, Bitcoin is already proving to be an important asset class for El Salvador.

Joe Nakamoto – a crypto journalist who recently filmed a Bitcoin-focused documentary in El Salvador – told Cryptonews that Bitcoin has introduced financial inclusivity and sovereignty to the region.

“In a country where a large portion of the population does not have access to traditional banking services and many families depend on remittances, BTC allows Salvadorans to become their own bank and receive money from anywhere in the world for an incredibly low fee,” said Nakamoto.

When you pay with #Bitcoin #Lightning in El Salvador…

..you get high fives, laughs and a hug @nayibbukele pic.twitter.com/pqjnlOafRd

— Joe Nakamoto (@JoeNakamoto) July 17, 2023

While President Bukele is firm on not selling the Government’s Bitcoin holdings, Nakamoto explained that BTC is used as money in the country by a small subset of the population.

“In circular economy projects including Berlín, El Zonte, and in some parts of San Salvador, there is an intransigent minority of Bitcoiner Salvadorans who are keen to see Bitcoin use outstrip Dollar use,” he said.

Mamasidikov pointed out that El Salvador abandoned the Dollar as a reserve currency in 2021 and began using Bitcoin. He believes that using BTC will allow the country’s wealth to increase over time.

“Bitcoin is digital gold for El Salvador, creating confidence among citizens and on the global stage, openly demonstrating that the country has money,” remarked Mamasidikov.

This is critical for El Salvador, as The World Bank has found that the region still faces high poverty rates that have doubled since 2019, along with a fragile fiscal position.

Why El Salvador Shouldn’t Sell Its Bitcoin

Even though El Salvador currently faces economic hardships, there are reasons  the Government should continue to hold on to its Bitcoin.

For instance, Nakamoto believes that selling the BTC the country possesses could lead to short-term financial gains, but it may also undermine confidence in El Salvador’s Bitcoin initiatives.

“I wonder how the hardcore Bitcoin community would look at El Salvador if President Bukele were to sell some of the country’s stash,” he said. “Personally, I wouldn’t care, but his resolute ‘HODLing’ suggests Bukele is sending out a message.”

Mamasidikov added that Bitcoin is not a means of speculation and trading for El Salvador because it is their reserve stock.

“If they wanted to sell BTC, they would face problems since the country has officially abandoned the reserve currency in the form of the Dollar and Gold,” he said.“This would deplete their reserves. The government will not do this.”

El Salvador Sets Example For Other Countries 

Regardless of what President Bukele eventually plans to do with the Government’s Bitcoin, El Salvador has started to set a positive example for other countries planning to incorporate the digital asset.

For instance, El Salvador’s long-anticipated Bitcoin bonds, also known as “Volcano Bonds,” have reportedly received regulatory approval for a launch this year. Once approved, El Salvador will be the first country in the world to leverage Bitcoin bonds.

“Personally, I see the adoption of Bitcoin in El Salvador as a step towards financial freedom while Bitcoin advocates globally can now well and truly point to El Salvador as a success story,” said Mamasidikov.

Yet although the efforts made by President Bukele have been impressive, Nakamoto pointed out that many of the country’s citizens still lack basic understanding of Bitcoin concepts.

“I interviewed over 30 Salvadorans on the streets of San Salvador to ask them if they had used Bitcoin as part of the documentary I filmed in 2022,” he said. “The vast majority had used Bitcoin at some point in the past 3 months. However, when it came to basic concepts about Bitcoin such as what is the total number of Bitcoin, most struggled.”

Given this, Nakamoto shared that he plans to travel back to El Salvador this year to further investigate Bitcoin adoption.

“I hope to repeat my questioning to understand if the country has a deeper understanding of Bitcoin and money,” he said. “Bitcoin as a technology and money is a paradigm shift, and as such, it requires time, effort, and a willingness to learn and understand.”

The post El Salvador May Become One of the World’s Richest Countries Due to Bitcoin Holdings appeared first on Cryptonews.

Its recent filing with the U.S. Securities and Exchange Commission (SEC) signaled BlackRock’s strategic shift toward cryptocurrency investments.

BlackRock Global Allocation Fund Portfolio

The asset manager’s intentions include adding physically-backed Bitcoin exchange-traded products (ETPs) to its MALOX fund.

This means the fund may acquire shares in ETPs that reflect Bitcoin’s performance by directly holding the cryptocurrency, including those sponsored by a BlackRock affiliate.

This indicates that MALOX has the potential to invest in Bitcoin ETFs, such as BlackRock’s iShares Bitcoin Trust (IBIT), launched in January 2024.

This action mirrors a recent update to its Strategic Income Opportunities Fund (BSIIX), where BlackRock detailed its intention to incorporate spot Bitcoin ETFs into its range of products.

Launched in February 1989, the BlackRock Global Allocation Fund assists investors in managing a portfolio of U.S. and foreign stocks, bonds, and cash equivalents. MALOX is among the 500 funds managed by BlackRock.

The BlackRock Global Allocation Fund’s holdings exceed $17 billion, with a market capitalization of approximately $497.4 billion. Nvidia Corp, Amazon Com Inc, and Microsoft are among its top equity holders.

Fastest-Growing Bitcoin ETF

On January 10, BlackRock and nine other spot ETFs secured approval for their spot Bitcoin ETFs. Following this, the iShares Bitcoin Trust (IBIT) experienced major growth.

BlackRock has acquired 6,266 Bitcoin daily since IBIT’s launch, amassing 184,910 BTC valued at $12.9 billion as of March 7, 2024.

On February 27, BlackRock’s Bitcoin ETF surpassed $1 billion in trading volume. Additionally, the iShares Bitcoin ETF (IBIT) achieved a milestone in the ETF industry by reaching $10 billion in assets under management (AUM) on March 1.

MILESTONE: the ten Bitcoin ETFs did $10b in volume today, smashing prev record set last Wed.. Volatility and volume go hand in hand with ETFs so not totally surprised. That said these are bananas numbers for ETfs under 2mo old. $IBIT, $FBTC, $BITB, $ARKB all w record days. pic.twitter.com/rIdbhoYifV

— Eric Balchunas (@EricBalchunas) March 5, 2024

In just seven weeks after its January 11 launch, it became the fastest ETF to reach this milestone. BlackRock’s success with Bitcoin ETFs has led the company to pursue approval for a spot Ethereum ETF in the U.S.

SEC just delayed @InvescoUS & @galaxyhq's #Ethereum ETF. 100% expected and more delays will continue to happen in coming months.

The only date that matters for spot #ethereum ETFs at this time is May 23rd. Which is @vaneck_us's final deadline date pic.twitter.com/gkVZL2QuPK

— James Seyffart (@JSeyff) February 6, 2024

Financial experts are cautious about the SEC’s approval timeline for a spot Ethereum ETF due to the regulator’s history of delaying applications.

Bloomberg’s ETF analyst James Seyffart has predicted that approval for an Ethereum ETF might not come until May 23, the final deadline for applications submitted by VanEck and Cathie Wood’s Ark Invest.

The post BlackRock’s Global Allocation Fund to Invest in Spot Bitcoin ETFs appeared first on Cryptonews.

Crypto asset manager Arca led the round. Other backers include Kanosei and FlamingoDAO.

On launching in the coming weeks, Oyl will offer “in-wallet” Ordinals trading. Ordinals brings NFT functionality to Bitcoin by enabling data inscriptions on individual satoshis. Satoshis are the smaller unit of Bitcoin, like cents are to a dollar.

All kinds of data can go on satoshis, including image, video, audio, and even a very primitive DOOM clone.

Following on from the Ordinals breakthrough, Domo’s BRC-20 token standard brought the ability to create tokens by inscribing data on satoshis.

Similar to the ERC-20 standard used on Ethereum by heavyweights like Tether, Uniswap, Polygon, Chainlink and Shiba Inu, BRC-20 lacks one crucial function of its counterpart: high-functionality smart contracts.

Still, for something that was put out for free by its creator, it’s gaining considerable traction and interest, a testament to the benefits of open-source collaboration, a founding ethos of crypto.

Bitcoin Ordinals And Beyond

Ordinals may become even more important in the Bitcoin network’s post-halving economy. On the halving, which is a quadrennial event that is this year estimated to arrive on April 19, the block rewards for Bitcoin miners get cut by half.

This effectively halves both mining revenues and the issuance of new Bitcoin. Typically, when demand has stayed consistent, as it has through the last three halvings, the price tends to go higher.

This halving looks no different with very high institutional demand for Bitcoin after the January launch of eleven Bitcoin ETFs. The world’s favourite cryptocurrency set a new all-time high of $69,255.77 just an hour ago, according to CoinGecko, but it has since pulled back to trade at $67,962.06 as of this writing.

Still, Ordinals transaction fees will represent an important alternative revenue stream for miners. They currently account for about 20% of miners revenue.

In the early days of March 2024, Bitcoin NFTs posted $168.5 million in sales over a period of seven days. They beat Ethereum NFTs, which posted $162 million over the same period.

Outside of Ordinals, Bitcoin nowadays has a booming layer 2 network, helping the blockchain to achieve scale and speed across a variety of applications. These layer 2s help give Bitcoin the functionality of Ethereum, the most commercially important blockchain.

The post Crypto Billionaire Arthur Hayes and BRC-20 Creator Domo Invest in Bitcoin Ordinals Wallet Oyl’s $3M Raise appeared first on Cryptonews.

The Bitcoin (BTC) price just pumped to new all-time highs above $70,000 in volatile trade.

Following a brief seemingly stop-run-induced pump as high as $70,200, the Bitcoin price reversed abruptly lower back under $67,000.

But Bitcoin price risks remaining strongly tilted towards a more sustained push above $70,000.

That’s because spot Bitcoin ETF inflows this week have remained very strong.

While GBTC outflows have picked up this week, averaging more than $300 million per day, this has been more than offset by strong continued inflows into the other spot Bitcoin ETFs.

BlackRock’s IBIT, Fidelity’s FBTC, Ark/21 Shares’s ARKB and the other newly launched ETFs saw inflows of nearly $1 billion per day on Tuesday and Wednesday, as per data presented by The Block.

And macro tailwinds have also been supporting the price in recent days.

Whilst Friday’s US jobs report was robust, with analysts arguing the report gives the Fed another reason not to rush on rate cuts, the DXY and US bond yields have been falling in recent days after Fed Chair Jerome Powell basically said that the Fed is close to cutting interest rates earlier this week.

Where is the Bitcoin Price Headed Next?

Bitcoin’s abrupt sell off shortly after hitting new all-time highs for a second time this week suggests appetite to take profit remains high.

But this sell has, so far, been much shallower than the drop back from all-time highs on Tuesday.

Traders will recall that Bitcoin at the time fell from above $69,000 to under $60,000 in a few hours.

This pullback was at the time put down to profit-taking.

Many traders and investors had no doubt marked up the prior 2021 all-time highs as a long-term profit target.

The shallower pullback from the new all-time highs printed on Friday suggests that profit-taking could be subsiding.

As profit-taking continues to ease, the stage is set for another explosive move higher into the $70,000s.

Narratives surrounding Bitcoin, be it ETF inflows, the halving, or the macro backdrop, remain resounding bullish.

There even remains an outside chance that the Bitcoin price hits $100,000 before the April halving.

The post Bitcoin Price Pumps to New All-Time Highs Above $70,000 – Where Is It Headed Next? appeared first on Cryptonews.

During the Asian session, Bitcoin price is trading at $67,500 with a near 1% increase on Friday. This growth parallels the significant strides within the Bitcoin ETF sector, exemplified by the Volatility Shares 2X Bitcoin Strategy ETF (BITX) nearing a milestone of $1 billion in assets.

Coupled with Travala’s new Bitcoin cashback rewards and Tesla’s speculative Bitcoin acquisitions, these developments underscore a pivotal moment for Bitcoin.

This wave of enthusiasm hints at an optimistic “Bitcoin price prediction,” promising potential for substantial market impacts and wider cryptocurrency adoption.

Bitcoin ETF Boom: BITX Nears $1 Billion in Assets Amid Crypto Surge

The Volatility Shares 2X Bitcoin Strategy ETF (BITX) is on the brink of overseeing $1 billion in assets, showcasing a remarkable 124% growth since January. This leap has notably outshined Bitcoin’s own 61% rise, with BITX leveraging CME bitcoin futures contracts for exposure.

Despite the inherent risks of leveraged trading and daily rebalancing, BITX has witnessed substantial growth:

• Accumulated $541 million in assets since its inception in June 2023.
• Garnered $402 million in 2024 alone, reflecting soaring investor interest.
• Currently stands as the second-leading futures-based ETF, just behind ProShares’ BITO, with $914 million in AUM.

Valkyrie is pleased to announce the launch of the Valkyrie Bitcoin Futures Leveraged Strategy ETF ($BTFX), our 2x leveraged #bitcoin ETF that gives traders a new option to gain exposure to bitcoin’s price action: https://t.co/lWl9zUKXxY

— Valkyrie (@ValkyrieFunds) February 22, 2024

BITX’s pioneering status in the market, despite new entrants like Valkyrie’s BTFX, solidifies its competitive edge. This burgeoning ETF popularity may further invigorate Bitcoin prices, highlighting an increasing appetite for leveraged cryptocurrency investments.

Travala Introduces Bitcoin Cashback Rewards for Elite Tourists

Travala.com has unveiled an innovative Bitcoin cashback program, offering a lucrative 10% incentive for its Smart Diamond tier users. CEO Juan Otero highlights the initiative as a response to Bitcoin’s scarcity and its mounting appeal, further amplified by the recent launch of a spot ETF.

This program allows members to either withdraw their rewards to external wallets or use them directly for travel expenses.

In 2023, Bitcoin transactions on Travala exceeded $5 million, representing 9% of all payments on the platform. However, access to this program is exclusive, requiring ownership of a Travel Tiger NFT and staking of 2,500 AVA tokens.

Key Points:

• Travala’s Bitcoin cashback program targets elite travelers with a 10% incentive.
• Over $5 million spent in Bitcoin on Travala in 2023, showcasing significant adoption.
• Program eligibility includes holding a Travel Tiger NFT and staking AVA tokens.

Travala’s new #Bitcoin rewards program targets top-tier travelers as #BTC fever rises :#Top-tier members of https://t.co/kdADJj7Plx are set to earn 10% #cashback rewards in Bitcoin on travel booking #payments made with the #Singapore-based travel agency.#Crypto-friendly travel… pic.twitter.com/XdbYRL2EWt

— TOBTC (@_TOBTC) March 7, 2024

This bold move towards crypto-based rewards could revolutionize traditional loyalty schemes and reduce costs, potentially driving broader acceptance of Bitcoin in everyday transactions.

As Travala encourages the use of Bitcoin for travel, this could positively influence Bitcoin prices, aligning with the growing demand from travelers.

Tesla’s Bitcoin Holdings Stir Market Speculation

Recent scrutiny of wallet data revealing Tesla’s ownership of 11,509 Bitcoin—more than initially disclosed—has sparked speculation about the electric vehicle giant possibly ramping up its Bitcoin investment.

Since Tesla’s initial $1.5 billion Bitcoin purchase in February 2021, Elon Musk’s changing stance on the cryptocurrency has led to sales and varied adoption levels within the company.

The market is abuzz with theories ranging from accounting oversights to anticipations of a strategic repurchase influenced by Musk’s forthcoming guidance.

Key Points:

• Uncovered wallet data suggests Tesla holds more Bitcoin than reported, fueling buyback rumors.
• Elon Musk’s wavering views on Bitcoin impact Tesla’s investment strategy.
• Speculation is further fueled by SpaceX’s Bitcoin assets and Michael Saylor’s positive outlook.

Is Tesla buying #Bitcoin again? #BTC wallet data sparks curiosity :
Some users speculated that Tesla might be buying #Bitcoins and might reveal the same during their next earning call while others believe it could be an accounting error.#Tesla’s #Bitcoin (#BTC) holdings have… pic.twitter.com/9Fd4DJEIs6

— TOBTC (@_TOBTC) March 7, 2024

As discussions unfold, the crypto community eagerly awaits confirmation or clarification from Musk, considering his significant influence on market dynamics.

This speculation could temporarily affect Bitcoin’s price, underscoring the cryptocurrency’s sensitivity to high-profile corporate movements and statements.

Bitcoin Price Prediction

On March 8, Bitcoin (BTC/USD)‘s pivot point established at $65,050. It faces immediate resistance at $69,045, with further ceilings at $71,992 and $75,598 that could test its ascent.

Conversely, support is identified at $62,872, with subsequent floors at $59,380 and $56,231 acting as buffers against declines.

The Relative Strength Index (RSI) at 57 and the 50-Day Exponential Moving Average (EMA) at $63,766 suggest a cautiously optimistic outlook.

However, recent doji and spinning top candles on the 4-hour chart indicate market indecision. Despite this, Bitcoin’s trend remains bullish above $65,050, with potential for a significant downtrend if it dips below this critical threshold.

Top 15 Cryptocurrencies to Watch in 2023

Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments.

Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed.

The post Bitcoin Price Prediction: BTC to Target $70,000? ETF Surge & Tesla Buys Fuel Rally appeared first on Cryptonews.

The SEC extended the response deadline for the Cboe Exchange and the Miami International Securities Exchange, both of which filed bids to offer options on Bitcoin ETFs. 

The agency has also postponed the decision on Nasdaq’s bid to offer options on BlackRock’s iShares Bitcoin Trust (IBIT), citing the need for more time to consider the request.

SEC Invokes Right to Defer the Decision

The filing deadline for the Bitcoin ETF options was January 25, and the SEC’s initial decision deadline was March 10. 

However, the SEC has invoked its right to defer a decision, granting an additional 45 days under U.S. securities laws. 

This means the SEC now has until April 24 to reach a final decision on options trading for Bitcoin ETFs.

Options are derivative products that provide traders with leverage, allowing them to make directional bets on the market.

For example, if a trader believes that Bitcoin’s price will rise, they can purchase a “call option” to buy 1 BTC at today’s price in a month’s time, putting down a smaller amount of money compared to buying 1 BTC outright. 

If Bitcoin’s price increases during that month, the trader can exercise their option, buy Bitcoin at a lower price, and potentially sell it for a profit. 

If Bitcoin’s price declines, the trader may choose to let the option contract expire and forfeit the premium paid.

Grayscale CEO Michael Sonnenshein has advocated for the approval of options for Bitcoin ETFs, stating that they contribute to a robust and healthy market. 

Bitcoin ETF Options Will Attract Hedge Funds

Analysts, such as VettaFi’s Dave Nadig, predict that the introduction of Bitcoin ETF options will attract hedge fund players who were not previously involved in the crypto ecosystem, providing them with an opportunity to participate in the market.

The SEC’s recent approval of ten spot Bitcoin ETFs on January 11 has already seen significant inflows of funds. 

As of March 6, excluding Grayscale’s converted ETF, the nine new ETFs had accumulated $25.87 billion in assets under management, according to BitMEX Research data.

In addition to options trading, the SEC is also evaluating seven spot Ether ETFs, with analysts speculating that the agency may wait until May 23 to approve them all, coinciding with the deadline for VanEck’s application.

Multiple leveraged Bitcoin ETFs are also under consideration by the SEC, including filings from asset manager Direxion for five inverse and long spot Bitcoin ETFs, ProShares’ five leveraged Bitcoin funds, and REX Shares’ six leveraged ETFs.

More recently, SEC Commissioner Hester Peirce said that the regulatory agency is operating in an “enforcement-only mode” when it comes to the regulation of cryptocurrencies. 

She said that one of the main barriers within the cryptocurrency industry is the SEC’s reliance on enforcement actions instead of establishing clear regulatory guidelines in advance. 

“If you really want to sort the bad behavior from the good behavior, having rules that are clear to people who want to follow them is a much better approach than doing this, parachute in later with enforcement.”

The post SEC Delays Decision on Options Trading on Spot Bitcoin ETFs appeared first on Cryptonews.

According to Arkham’s announcement on social media, the crypto intelligence firm claimed to have identified Tesla and SpaceX’s Bitcoin addresses through a meticulous analysis. They suggested these addresses align with the companies’ previous financial statements.

BREAKING: TESLA & SPACEX ARE NOW ON ARKHAM

Arkham has identified the BTC holdings of Tesla and SpaceX. We are the first to publicly identify these holdings on chain.

We believe Tesla currently holds 11.51K BTC ($780M) across 68 addresses, and SpaceX holds 8.29K BTC ($560M)… pic.twitter.com/vwoEJ0h0dS

— Arkham (@ArkhamIntel) March 7, 2024

Tesla and SpaceX’s Bitcoin Holdings

“The on-chain fund flows we’ve identified match financial statements from Tesla and SpaceX,” stated Arkham.

“We believe Tesla currently holds 11.51K BTC ($780M) across 68 addresses, and SpaceX holds 8.29K BTC ($560M) across 28 addresses,” said Arkham.

The two spotlighted companies possess 19,794 BTC combined based on Arkham’s report. At the current trading price of $67,210, the total value of their holdings would exceed $1.33 billion.

“Tesla purchased $1.5B of BTC in Jan 2021, and sold BTC on 2 occasions: Sold $272M BTC in Q1 2021; Sold $936M BTC in Q2 2022,” the firm listed.

The announcement also disclosed that from March 24 to May 12, 2021, Tesla permitted the purchase of its vehicles using Bitcoin.

“Our Tesla Intel Exchange Bounty revealed a Tesla car purchase linked to this larger cluster of Tesla holdings,” said Arkham.

Elon Musk Criticizes OpenAI’s Strategy

Elon Musk has recently ignited discussions within the cryptocurrency community through his critique of ChatGPT’s creator OpenAI.

Musk, who played a crucial role in the founding of the AI research company, took to social media on March 6 with a series of memes aimed at the organization, rebranding it as “ClosedAI.”

The mockery came amid Musk’s legal battle against OpenAI CEO Sam Altman, accusing him of breaching the firm’s foundational agreements of being an open source and non-profit establishment.

The crypto community reacted with speculations about the broader implications of Musk’s actions.

Support for Musk’s critique has been particularly strong in the crypto community, especially in light of his efforts to incorporate Grok AI, a chatbot developed by Musk’s own startup xAI, into the X platform.

David Gokhshtein, a notable crypto character, proposed that Musk should consider taking over OpenAI, drawing an analogy to his acquisition of Twitter.

The post Tesla and SpaceX Hold Over $1.3 Billion Worth of Bitcoins: Arkham appeared first on Cryptonews.

Back then DCG owned the now-bankrupt crypto lender Genesis. If the proposed “commercial partnership” had gone ahead the plan would have been to compete with cryptocurrency exchanges Coinbase and FTX, with plans to then take the company public in 24 months after raising $500-1 billion.

In the email exchange, Silbert said there is the potential to “be a juggernaut” if the two businesses joined forces. DCG’s Silbert had proposed the plan to Cameron Winklevoss in 2022, who was then going to discuss plans with his twin brother, Tyler Winklevoss and come back with thoughts and plans on how best to proceed.

Genesis and the Gemini “Earn” Program

Genesis and Gemini had jointly offered an “Earn” program that allowed customers to earn interest on their cryptocurrency holdings. Genesis had to freeze customer withdrawals in November 2022. In January 2023, Genesis Global filed for Chapter 11 bankruptcy protection in New York seeking $1.1 billion on behalf of its Earn program users.

Gemini exchange reportedly withdrew approximately $280 million from Genesis Global just months before the crypto lender initiated a freeze on customer deposits and ultimately filed for bankruptcy.

Genesis and Gemini also faced charges from the U.S. Securities and Exchange Commission in January 2023, alleging that the Earn program constituted an unregistered sale of securities.

DCG Settles Over $1 Billion in Debt 

In January  DCG said it had successfully settled over $1 billion in debt, including the substantial amount of nearly $700 million owed to its bankrupt subsidiary, Genesis.  The announcement came from DCG’s Silbert, who took to the social media platform X to share the news.

The debt settlement process began after Genesis filed a lawsuit against DCG and its affiliate, DCG International Investments (DCIG), in September.

The post Genesis and Winklevoss’ Gemini Discussed Merger Plans Before Collapse, Court Filings Show appeared first on Cryptonews.

Bitcoin’s price prediction takes center stage as Bitget’s Managing Director, Gracy Chen, forecasts a potential climb to $120,000 – $140,000. This bold prediction hinges on recent ETF net inflows, suggesting an imminent rally.

With Bitcoin currently trading near $67,000 and showing signs of resilience after a sharp pullback, the stage is set for what could be an unparalleled bull market cycle.

Chen’s insight offers a compelling case for investors pondering the timeless question: Is now the time to buy?

Crypto Exchange Director Foresees BTC’s Bullish Future

In a comment shared with Cryptonews, Gracy Chen, the Managing Director of Bitget, projected a bright future for Bitcoin, suggesting a potential surge to “$120,000 to $140,000 in this bull market cycle.” Chen’s optimism is tied to the strong net inflows the Bitcoin ETF has been witnessing, which she believes could propel Bitcoin to new all-time highs.

“This has proven the resilience of decentralized assets and the value of decentralized ecosystems,” she added.

Despite a recent pullback where Bitcoin dipped to $59,000, shedding about 16.9% of its value, the cryptocurrency has demonstrated a robust recovery, climbing back to $66,000.

According to Chen, such rapid pullbacks are not uncommon in the midst of sharp uptrends and typically signify a phase of market deleveraging.

The swift rebound in Bitcoin’s price is a testament to the enduring optimism and confidence investors have in Bitcoin, signaling a bullish outlook for the cryptocurrency’s future.

Bitcoin Price Prediction

Today, Bitcoin (BTC/USD) showcases a robust performance, with its price reaching $67,216, marking a over 1.75% increase within the last 24 hours.

This places Bitcoin at the pinnacle of the cryptocurrency market, with a staggering market capitalization of $1,320,668,386,493 and a circulating supply nearing its maximum at 19,647,850 BTC.

The technical analysis reveals pivotal dynamics, with a current pivot point at $64,858 suggesting potential volatility.

The chart, analyzed on a four-hour timeframe, outlines immediate resistance levels at $69,045, followed by $71,992 and $75,598, indicating the thresholds for upward momentum.

Conversely, support levels are established at $62,872, with further floors at $59,380 and $56,231, which could cushion any downward trends.

The technical landscape is further enriched by the 50-Day Exponential Moving Average (EMA) at $63,160 and the Relative Strength Index (RSI), both endorsing a bullish sentiment.

However, a break below the $66,000 mark could pivot the trend towards a bearish bias.

In conclusion, Bitcoin’s current trajectory remains bullish above the $66,000 threshold, supported by critical technical indicators

Green Bitcoin: Pioneering Sustainability in Cryptocurrency Through Gamified Staking

Green Bitcoin emerges as a pioneering force in the crypto world, marrying environmental sustainability with the dynamic world of digital finance. By introducing Gamified Green Staking, this initiative not only offers enticing rewards but also promotes environmental stewardship with each transaction, supported by a unique dual token incentive system.

Token Allocation Breakdown:

• Presale (40%): Sets the stage for an impactful market debut, laying the foundation for future growth.
• Staking Rewards (27.50%): Dedicates a substantial portion to reward the long-term commitment of its stakeholders, ensuring the vitality of the $GBTC ecosystem.
• Marketing (17.50%): Funds targeted marketing efforts critical for establishing and expanding the currency’s global influence.
• Liquidity (10%): Ensures seamless transactions and trading, reinforcing $GBTC’s presence on various exchanges.
• Community Rewards (5%): Celebrates and incentivizes the contributions of the core community, fostering engagement and loyalty.

The ‘Green Map‘ outlines a clear trajectory for Green Bitcoin, starting with a value-driven presale and advancing through strategic initiatives that energize the community and solidify the token’s market position.

• Countdown to Next Price Jump: Just 4 Days
• Raised so far: $2,321,140  out of $2,247,631
• Exchange Rate: 1 $GBTC = $0.6882

Take the leap into Green Bitcoin’s realm where your investment does more than yield returns—it supports a sustainable financial ecosystem. Stake your claim today and be part of an eco-responsible future.

Get Green Bitcoin Here

The post Bitcoin Price Prediction as Crypto Exchange Director Says BTC Could Hit ‘$140,000’ – Time to Buy? appeared first on Cryptonews.

Pomp Investments founder Anthony Pompliano believes the digital currency could reach $138,000 in short order after conclusively breaking its previous all-time high of $69,000. The asset briefly broke the previous record on Tuesday at $69,210, and now trades just shy of it at $67,423.

Bitcoin Ready To Double In Price

During a Thursday interview with CNBC, Pompliano said:

“If we go back and we look at past record high breaks… three of the four times, Bitcoin doubled in eighteen days or less. Once you break through an all-time high, its price discovery – what is this thing worth?”

Back in December 2020, Bitcoin broke its previous all-time high of $19,600 which was first recorded in December 2017. By January 2021, the asset had already surged above $34,000.

A similar pattern was visible in early 2017. After cracking its 2013 high of $1200 in April, the asset had surged to $2500 by June.

Yet there’s one major difference this time around: Bitcoin’s new all-time high came before this year’s Bitcoin halving, while most new highs occur several months afterward. As such, the effects the event will have on Bitcoin’s market dynamic still haven’t been priced in.

“You had in the fact that we have the halving coming, and we’re about to go from 900 Bitcoin a day to 450… and it’s hard not to make an argument that Bitcoin is going much higher, and at a faster pace than we all expect,” Pompliano said.

Bitcoin’s Long Term Potential

Much of Bitcoin’s appreciation since the start of the year can be credited to new Bitcoin spot ETFs in the United States, which have absorbed over $8 billion in net flows since launching on January 11. Their success is expected to continue by most, with Bitwise CEO Matt Hougan claiming that corporations and wirehouses haven’t even begun buying them yet.

Pompliano expects three “main new buyers” to start investing in Bitcoin ETFs in the near future – two of which include public pension funds, and sovereign wealth funds. Eventually, he expects the asset’s market cap to surpass gold.

“What Bitcoin has become is an index for global liquidity,” he explained. “If you believe the dollar is gonna continue to be debased over the next decade, Bitcoin’s a winner.”

The value of Bitcoin stores in U.S. ETFs recently surged past $50 billion – more than half of that held by the nation’s gold ETFs. MicroStrategy CEO Michael Saylor said during an interview this week that the ETFs will soon surpass gold ETFs in AUM.

The post Bitcoin’s Price May Double To $138k This Month, History Suggests appeared first on Cryptonews.

Both Stack’s Bowers Galleries and Heritage Auctions are presenting “physical cryptocurrencies” as part of their upcoming showcases, highlighting collector interest in tangible coins representing popular digital assets.

James McCartney, Director of Consignments and Numismatics at Stack’s Bowers Galleries, told Cryptonews that the gallery recently announced its “Bitcoin Halving Sale,” which will be featured as part of their Spring 2024 Showcase Auction.

McCartney shared that the Bitcoin Halving Sale will consist of more than 200 physical cryptocurrency coins with a combined market value of more than $1 million (all values based on $60,000 BTC value).

“This is the firm’s first physical crypto sale of the year and certainly one of the most significant they have put together since entering the category in 2021,” said McCartney. “It is also the very last dedicated crypto auction to be held before the Bitcoin Halving event predicted for mid-April, which has been subject to tremendous excitement and speculation.”

The Concept Behind Physical Bitcoin

According to McCartney, physical Bitcoins are essentially cold wallets that resemble specific cryptocurrencies. He added that some of these physical collectables can contain a public address that is unique to each coin, which may be loaded with cryptocurrency at the time of sale.

“This format was made popular by the Casascius and Lealana series produced from 2011 through 2013, but many more producers have since made coins of their own,” he said.

For context, Bitcoinwiki.org notes that “Casascius Physical Bitcoins” – also known as Casascius coins – are physical metal coins that were created by a Bitcoin user by the name of “Casascius.”

Have you ever given #Bitcoin to people as a gift and the the price skyrockets?

My guest Mike Caldwell, the creator of Casascius Physical Bitcoins, used to give these out as Christmas gifts in 2011 until the Gov't shut him down.

Listen to his story at https://t.co/OPfZCStjSx pic.twitter.com/tM9xH0WoGN

— Charlie Shrem (@CharlieShrem) July 9, 2019

These coins with actual Bitcoin embedded in them were sold from 2011 until Nov. 2013. Yet sources note that Casascius collection’s creator, Mike Caldwell, received a cease and desist letter from the U.S. Government, putting an end to the series entirely in 2013.

Physical Cryptocurrency Viewed as Rare Collectables 

Sam Spiegel, Director of International Numismatics at Heritage Auctions – a Dallas, Texas-based auction house founded in 1976 – told Cryptonews that physical cryptocurrency from the Casascius collection has since become rare, piquing the interest of coin collectors and crypto enthusiasts alike.

“Heritage offered its first piece of physical cryptocurrency last year. We began in earnest with our offering of Part 1 of the ‘Otoh Collection,’ which was sold last November,” said Spiegel. “This was a major private collection from an early adopter; believe it or not, these were bought by the Otoh collector directly from Casascius (who produced these) in 2013 for a small fraction of what they are worth today.”

Following this auction, Spiegel noted that physical crypto assets have made a “big splash” within Heritage Auctions’ collecting community.

“More of these physical cryptocurrency coins have been coming in from other collectors for our auctions,” he said.

Given this rising interest, McCartney pointed out that Stack’s Bowers’ long-time collectors have started to pay attention to physical cryptocurrency collections after focusing on traditional rare coins for years or decades.

“We view physical bitcoins on par with traditional numismatic categories like $20 gold coins or Morgan silver dollars that have been prized by collectors for decades,” McCartney said. “Since first entering the category in 2021, we’ve sold over 1,000 physical crypto coins and achieved more than $4.5 million in total prices.”

Spiegel further noted that Heritage Auctions has seen a mix of collectors taking interest in its physical crypto collections.

“Some are very traditional coin collectors who are buying these as a piece of numismatic history, though we’ve also seen crypto and NFT enthusiasts buy these as historical Web3 items,” he added.

Physical Bitcoin Selling for More Than BTC Market Value

While the concept of physical cryptocurrency may appeal to a specific group of collectors, it’s interesting to note that some of these collections are selling at higher prices than a cryptocurrency’s market value.

According to Spiegel, the value of a physical cryptocurrency is often determined by the market, yet collectors will typically bid these items up. He added that Heritage Auctions will start each lot – meaning an individual object or group of objects offered for sale at auction as a single unit –  with no minimum bid, and offer them without reserve.

“In the case of lot #65215, it sold for $78,000, when at the time bitcoin was about $63,500,” said Spiegel. “This is because collectors placed a premium on these collectible items. In my mind, it’s not dissimilar to collectors paying a premium over the gold price for a rare, collectible gold coin.”

Matthew Weller, Global Head of Research at StoneX – an institutional-grade financial services franchise – told Cryptonews that given the positive correlation between Gold and Bitcoin, it might make sense for some investors to pay a small premium for a physical cryptocurrency.

“This is the case especially if the investor values the artistic value, security features, or if the physical coin offers additional functionality, such as a hardware wallet,” said Weller. “Physical coins can also be crafted with intricate designs and made from precious metals, making them collectible items. For enthusiasts and collectors, this adds an aesthetic value beyond the 1s and 0s that make up the digital currency itself.”

Indeed, McCartney explained that these coins are typically comprised of struck metal – commonly brass or silver – and conceal a private key beneath a tamper-resistant holographic sticker.

“Oftentimes, the first digits of the public address are engraved or printed on the security sticker so that the funded status or amount can be verified,” he explained.

In order for a collector to “redeem” the coin, McCartney noted that the holographic sticker must be peeled to reveal the private key, which allows the owner to sign a transaction, thus “spending” the associated Bitcoin.

McCartney added that once a physical crypto coin has been redeemed it can’t be re-loaded.

“They are considered spent,” he said.

Unsurprisingly, McCartney explained that as more physical Bitcoins continue to be redeemed, the rarity and desirability of those intact “unspent” coins increases.

“This explains the appeal of physical Bitcoins from a collectible standpoint and why we have seen them command sizable premiums compared to their ‘face value,” McCartney pointed out.

For example, McCartney noted that there were originally around 28,000 coins “loaded” as part of the Casascius series. Yet only around 18,000 remain intact.

“More continue to be redeemed as time goes on,” he said.

Tangible Crypto Drives Mainstream Interest 

Although physical cryptocurrency may appeal primarily to collectors, these tangible assets could help drive mainstream adoption if the concept catches on.

For instance, Spiegel mentioned that he believes these coins are broadening the appeal of cryptocurrency.

“The more we offer these items at auction, the more legitimacy they have as collectibles, as evidenced by the fact that the premiums have been quite strong,” he remarked.

Weller added that there are likely investor-minded individuals who want to have some portion of cryptocurrency in their portfolios, yet may be more comfortable having something tangible.

“Stack’s Bowers Galleries sales should certainly help create a familiarity with Bitcoin for those who are curious or collector-minded,” said McCartney. “Collectible physical Bitcoin is still a niche category within the overall cryptocurrency community, but we are optimistic for wider adoption as we continue to invest and spread awareness about the category.”

The post Physical Bitcoin Worth Over $1 Million Presented At Auction Houses appeared first on Cryptonews.

Last at $67,500, the Bitcoin price is up roughly 14% versus the lows it printed earlier this week at under $60,000.

After hitting a new ATH on Tuesday, a wave of profit-taking took the market off guard.

A subsequent cascade of leveraged long liquidations drove the Bitcoin price briefly back under $60,000.

But strong continued net inflows into spot Bitcoin ETFs meant the BTC price found strong support.

And macro headwinds are coming into play on Thursday, as traders up their bets on near-term Fed rate cuts.

Fed Chair Powell remarked on Thursday that the central bank is “not far” from reaching a point of sufficient confidence that inflation is heading back to the Fed’s 2.0% goals to begin cutting interest rates.

In simpler terms, Powell is saying that the Fed is close to cutting interest rates.

Macro traders responded by upping their bets that rate cuts will start by June.

As per the CME’s Fed Watch Tool, the market-implied odds of at least one 25 bps rate cut by June jumped above 75% from under 70% one day ago.

That weighed on the US dollar as short-term US yields fell, and supported tech stocks.

Crypto tends to have a positive correlation to tech stocks, and a negative correlation to the US dollar and yields.

Where Next for the Bitcoin (BTC) Price?

Traders will be monitoring whether the Bitcoin price can retest Tuesday’s record highs before the end of the week.

Last up over 55% in the past 30 days, some traders are getting nervous that Bitcoin has rallied too fast, too far this side of the upcoming halving.

Historically, the Bitcoin price often rallies but then suffers a correction around the time of the halving.

But others think the introduction of a new source of demand from spot Bitcoin ETFs means this time around could be different.

Amid macro tailwinds, risks seem tilted towards fresh upside this month, with Bitcoin potentially set to push into the $70,000s and beyond.

Still, BTC option market pricing suggests nerves about the near-term outlook, but greater confidence that the long-term outlook is positive.

That’s reflected in a 7-day 25% delta skew on Bitcoin options of 4.5, versus a 180-day 25% delta skew on BTC options of nearly 8, as per data presented by The Block.

A positive 25% delta skew suggests that option buyers are paying a premium for bullish calls versus equivalent bearish puts.

The probability that Bitcoin will hit $100,000 in 2024 is still very high.

The post Bitcoin (BTC) Price Briefly Retakes $68,000 as US Dollar Dips on Dovish Remarks from Fed Chair Powell appeared first on Cryptonews.

Arizona has already been proven open to technological advances. In January 2023, it introduced a bill which would permit the State to receive tax payments in cryptocurrency.

Per the recent bill, Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) is seeking to add exposure to Bitcoin ETFs in their portfolios.

Provisions “expresses that the Legislature encourages ASRS and PSPRS to closely monitor developments in Bitcoin ETFs and other digital asset ETFs and consider the implications of including such assets in their investment portfolio.”

Further, the bill encourages to submit a “comprehensive report” on the feasibility, risk and benefits of adding Bitcoin ETF exposure. It would include options and recommendations for “safely investing” in the asset class, submitted to key state officials.

Bitcoin ETFs are ‘Safe-Haven’ Investments Like Gold

According to Dennis Porter, CEO of the Satoshi Action Fund, the resolution would be a “strategic effort to enhance portfolio diversification and reduce investment risk.”

“By considering Bitcoin ETFs, Arizona is looking to leverage the inherent value and potential stability offered by Bitcoin, akin to traditional safe-haven investments like gold.”

ARIZONA SENATE PASSES RESOLUTION TO CONSIDER ADDING THE #BTC ETF TO AZ STATE PENSIONS.

Once passed this Resolution will ask State pension fund managers and State Treasures to study the #Bitcoin ETF.

Thank you to @JakeHoffmanAZ for leading this effort and for ensuring AZ…

— Dennis Porter (@Dennis_Porter_) March 6, 2024

He also noted that adding Bitcoin ETFs could significantly mitigate risks within an asset portfolio, thus challenging skepticism surrounding Bitcoin.

“We believe adding even a small amount of a Bitcoin ETF could Dramatically de-risk an asset portfolio,” Porter wrote. “Arizona is just the beginning of the process. Other states are coming around to this as well and you will see more announcements on the ‘BTC ETF Resolution’ soon.”

Despite the inherent volatility of cryptos, they are an interesting diversification tool due to their decentralized nature and potential for high returns.

Additionally, exchange-traded funds backed by Bitcoin offers unique benefits for retirement planning. This gives a balanced approach that combines traditional and digital assets, contributing to the portfolio’s overall risk balance.

The post Arizona Senate Seeks to Add Bitcoin ETFs to State Retirement Portfolios appeared first on Cryptonews.

Bitcoin price’s slight dip to $66,105 sparks curiosity about future trends. This Bitcoin price prediction examines the potential for a bullish recovery, highlighting MicroStrategy’s increased investment and legislative movements towards Bitcoin ETFs in retirement plans.

As the landscape evolves with significant inflows into Bitcoin ETFs, notably from BlackRock, the question arises: will these developments sustain Bitcoin’s bull run?

With key resistance and support levels in focus, the market’s response to strategic investments and regulatory advancements could chart the course for Bitcoin’s next big leap.

MicroStrategy Boosts Convertible Note Offering to $700M Amid Stock Surge

In a bullish move, MicroStrategy elevates its convertible note offering to $700 million, aiming to further invest in Bitcoin amidst a vibrant cryptocurrency market.

This adjustment from an initial $600 million reflects the company’s confidence, offering notes at a 21% premium with a $1,497.68 conversion price. Targeting institutional and accredited investors, these notes are redeemable post-March 2027.

MicroStrategy Announces Pricing of Offering of Convertible Senior Notes $MSTR https://t.co/GBR4yG4Ebk

— Michael Saylor (@saylor) March 6, 2024

MicroStrategy anticipates using the $684.3 million net proceeds for operational expenses or augmenting its Bitcoin portfolio. Currently owning 193,000 BTC worth $12.9 billion, the firm boasts a 112% return.

Chairman Michael Saylor’s optimism for Bitcoin, spurred by technological advancements and the potential for a decade-long “gold rush,” could significantly influence BTC’s market dynamics.

Arizona Senate Explores Bitcoin ETFs for Retirement Plans: A Revolutionary Step?

The Arizona Senate is currently deliberating on a groundbreaking proposal that could transform retirement planning. This initiative suggests incorporating Bitcoin Exchange-Traded Funds (ETFs) into the state’s retirement portfolios, aiming at diversification and potential risk mitigation.

Recently cleared by the Senate with a 16–13 vote, the proposal is now under the House’s scrutiny. It specifically calls on the Public Safety Personnel Retirement System (PSPRS) and the Arizona State Retirement System (ASRS) to consult SEC-approved Bitcoin ETF providers for a comprehensive impact assessment.

• Senate Proposal: Incorporate Bitcoin ETFs into Arizona’s retirement plans for diversification and risk reduction.
• Legislative Process: Passed by the Senate, currently reviewed by the House.
• Potential Impact: If implemented, could pave the way for broader Bitcoin ETF investments in retirement accounts and pension funds.

BREAKING: Arizona passes a resolution in the Senate to have the state pensions’ study, purchasing the #bitcoin ETF. pic.twitter.com/B01i9iVncK

— Dennis Porter (@Dennis_Porter_) March 6, 2024

Dennis Porter, CEO of Satoshi Action Fund, views this as a strategic move to enhance portfolio diversity and minimize investment risk, potentially boosting Bitcoin’s stability and market value.

Echoing this sentiment, the president of CBOE earlier highlighted that adoption could significantly open investment avenues in Bitcoin ETFs for retirement and pension funds, marking a pivotal shift in traditional retirement investment strategies.

BlackRock’s Bitcoin ETF Sets Record Inflows: Catalyst for Continued Bull Run?

In early 2024, the investment landscape was transformed when the SEC greenlit 10 spot Bitcoin ETFs, bridging the gap between conventional investors and cryptocurrency enthusiasts.

Among these, giants like Fidelity and BlackRock led the charge, with BlackRock’s IBIT ETF notably setting records for net inflows.

MILESTONE: the ten Bitcoin ETFs did $10b in volume today, smashing prev record set last Wed.. Volatility and volume go hand in hand with ETFs so not totally surprised. That said these are bananas numbers for ETfs under 2mo old. $IBIT, $FBTC, $BITB, $ARKB all w record days. pic.twitter.com/rIdbhoYifV

— Eric Balchunas (@EricBalchunas) March 5, 2024

This surge of interest propelled Bitcoin’s value to an impressive $70,000 by March 5, underscoring the pivotal role of these ETFs in driving cryptocurrency adoption and investment.

• SEC Approval: Introduction of 10 spot Bitcoin ETFs revolutionizes crypto investment.
• BlackRock’s IBIT ETF: Achieves record net inflows, spotlighting significant investor interest.

BlackRock's Bitcoin ETF Breaks Net Inflows Record; Will The Bull Run Continue?https://t.co/nkeVeJivU8

— Iggy MacIósaef (@ignilyan) March 7, 2024

Despite Grayscale Bitcoin Trust ETF facing selling pressure due to high fees and profit-taking, the overarching market trend remains positive, buoyed by ETFs’ remarkable trading volumes.

Analysts are speculating on the sustainability of this bullish momentum, with some attributing it to the anticipatory buzz around Bitcoin’s upcoming halving and the potential nod for Ethereum ETFs.

This breakthrough in ETF approvals has undeniably enriched Bitcoin’s market dynamics and allure, hinting at further evolutionary strides in the crypto domain.

Bitcoin Price Prediction

As of March 7, Bitcoin (BTC/USD) minor decrease to $66,105, marking a 0.02% dip, illustrates the market’s current hesitancy. Within the four-hour trading framework, Bitcoin hovers above a pivotal $64,858, suggesting an underlying strength despite the nominal setback.

The digital currency faces substantial resistance at $69,045, with further barriers at $71,992 and $75,598, outlining potential hurdles for an upward trajectory.

Bitcoin finds immediate support at $62,872, with subsequent levels at $59,380 and $56,231, offering a cushion against declines.

The Relative Strength Index (RSI) at 55 and the 50-day Exponential Moving Average (EMA) at 62,827 signal a balanced but bullish market stance. Should Bitcoin maintain its position above the pivot point, optimism prevails; however, dipping below could prompt a more cautious market reevaluation.

Top 15 Cryptocurrencies to Watch in 2023

Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023. Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments.

Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed.

The post Bitcoin Price Prediction: MicroStrategy’s $700M Bet & ETF Buzz – Buy Above $64,850? appeared first on Cryptonews.